Business Briefs for November 2017

The Inn at Seaside has adopted a new logo it says was developed to work hand-in-hand with the hotel’s new motif.

Janet Mossman

Inn at Seaside being renovated

SEASIDE — Seaside Lodging LLC started a $500,000 renovation of the Inn at Seaside this week in mid-October. The Inn at Seaside was the first property acquired by Seaside Lodging in 2009.

The renovation includes: a fully remodeled lobby, updated business center, renovated breakfast room, refreshed building exterior/corridors, and new signage to launch a re-branding. In addition, the guest rooms will be updated with new flooring, fresh paint, contemporary furnishings, as well as modern interior design. The property will be highlighted by a “modern retro” theme and décor.

“We’ve already made significant improvements over the last years. Our focus is to enhance the guest experience in all areas of the hotel and stay current with lodging trends,” said Masudur Khan, Managing Director of Seaside Lodging. “We are targeting to be completed by early next year and we’re confident that our guests will enjoy the new look.”

The 48-room property is located across the street from the Convention Center and two blocks from the beach.

Pacific lodging taxes up

SEAVIEW — Lodging taxes in the unincorporated majority of Pacific County in September were up 11 percent over September 2016. City of Long Beach lodging tax collections were down 0.5 percent from September 2016. County-wide lodging tax receipts were about $170,000 in September 2017, up from around $115,000 in September 2012, the Long Beach Peninsula Visitors Bureau said.

In August, collections were up 7 percent year-over-year in unincorporated areas, up 9 percent in Long Beach and up 10 percent in Ilwaco.

CMH awarded HFAP accreditation

ASTORIA — Columbia Memorial Hospital was awarded accreditation by HFAP, the nation’s original independent, accreditation organization recognized by the Centers for Medicare and Medicaid Services (CMS). Accreditation confirms that CMH is providing high-quality care as determined by an independent, external process of evaluation.

“Columbia Memorial Hospital clearly demonstrates a commitment to quality and patient safety,” said Lawrence Haspel, DO, Chairman of the Bureau of Healthcare Facilities Accreditation for HFAP. “We base our decision on the findings of an extensive and thorough on-site review of the hospital against recognized national standards for patient safety, quality improvement, and environmental safety. Columbia Memorial Hospital has earned the distinction of HFAP accreditation through its performance in successfully meeting those standards.”

“We’re proud to achieve this prestigious accreditation,” said Erik Thorsen, CEO, Columbia Memorial Hospital. “Earning HFAP accreditation is a significant achievement that recognizes our commitment to providing outstanding care to our patients and our community Being an accredited hospital signals to our patients that CMH has been thoroughly evaluated for quality and safety.”

Employment picture looks good

LONG BEACH and ASTORIA — Pacific County’s jobless rate fell to an estimated 6 percent in September. Although that still left it among the 12 Washington counties (out of a total of 39) with the highest unemployment, it was the county’s lowest rate at any point since July 1990.

Washington state’s September jobless rate was unchanged at 4.6 percent. The national rate was 4.2 percent.

“Washington economy is in great shape,” said Paul Turek, economist for the Employment Security Department. “Businesses continue to add jobs and more people are joining the labor force.”

In Clatsop County the estimated seasonally adjusted jobless rate was 4.3 percent in September, down from 4.9 percent a year earlier. Oregon’s overall rate was about the same, 4.2 percent.

Bank of the Pacific sets record

ABERDEEN — Pacific Financial Corp., holding company for Bank of the Pacific, reported record net income of $2.2 million, or $0.20 per diluted share, up 16 percent for the third quarter of 2017, compared to $1.9 million, or $0.18 per share for the second quarter of 2017.

“We delivered record earnings for the third quarter and year-to-date, driven by steady loan growth, an expanded net interest margin and our dedication to improving operating efficiencies,” said Denise Portmann, president and chief executive officer.

“Residential mortgage lending continues to enhance our revenues, contributing $1.4 million to non-interest income during the quarter,” Portmann said. “Residential housing demand is healthy, but low supply in several of our markets is limiting sales volume in the markets we serve.” Total loans grew by $10.2 million from the second quarter to $680.5 million, and increased by $31.2 million compared to the third quarter a year earlier.

SBA lending drives Clatsop bank success

SEASIDE — Clatsop Community Bank reported a net profit of $171,000 or $0.15 per diluted share, for the three months ended Sept. 30, compared to net profit of $127,000, or $0.12 per diluted share, for the same period the year before.

“Our track record for generating meaningful earnings continued in Q3,” President and CEO Joe Schulte said. “And with improving economic conditions, the community banking option for our locally operated businesses becomes even more important.”

Assets totaled $94.8 million as of Sept. 30, up $7.2 million or 8.22 percent compared to $87.6 million in assets a year earlier.

“Loan demand increased this quarter, and as a result, we were able to increase the loan portfolio with quality assets and provide resources for our local business customers.” Chief Credit Officer Cindy Trask said. “Much of this activity can be attributed to the SBA loan program and the streamlined processing we can offer to borrowers because of it,” she added.

Mossman earns top healthcare management credential

ASTORIA — Janet Mossman, FACMPE, clinic manage for Pacific Family Medicine in Astoria, recently became a Fellow of the American College of Medical Practice Executives (ACMPE), the nation’s leading professional society for healthcare leaders.

“The healthcare management field plays a vital role in providing high-quality care to the people in our communities, which makes having a standard of excellence promoted by a professional organization critically important,” said Dr. Halee Fischer-Wright, President and CEO of Medical Group Manager’s Association (MGMA) of Englewood, Colorado. “By becoming an ACMPE Fellow and earning the distinction of board certification from ACMPE, healthcare leaders demonstrate a commitment to excellence in serving their patients and the community.”

Fellow status represents achievement of the highest standard of professional development. To obtain Fellow status, candidates must fulfill multiple requirements, including passing a comprehensive examination, meeting academic and experiential criteria, earning continuing education credits, and conduct a professional study defensible to peers.

Oregon 10th for competitive taxes

WASHINGTON, D.C. — Oregon has the 10th most competitive tax code in the nation, according to the Tax Foundation’s newly released 2018 State Business Tax Climate Index. Washington was ranked 17th, downgraded for its high sales taxes (ranking 48th) and corporate taxes (ranking 46th).

This annual report measures how well each state’s tax code is structured, analyzing over 100 tax variables in five different tax categories: corporate, individual income, sales, property, and unemployment insurance.

The breakdown of Oregon’s 2018 ranking is as follows (1st is best, 50th worst):

• Overall Tax Climate: 10

• Corporate Tax Structure: 34

• Individual Income Tax Structure: 32

• Sales Tax Structure: 4

• Unemployment Insurance Tax Structure: 31

• Property Tax Structure: 18

The Index ranks states based on their tax structure, not their tax burden. States with complex tax codes that distort business decisions do poorly, while states with transparent, neutral, fair tax codes score well.